High street banks are failing to win over budding entrepreneurs as a source of advice and funding for pre-stage or nascent start-ups.
Such is the verdict of 1,000 high-flyers, polled by Shell LiveWire to determine how much they support they get and what inspires them to ‘go it alone.’
Obtained by the Mail on Sunday, the research shows a significant 41% feel their high street bank offers a poor service for youngsters eyeing self-employment.
Loved ones are likelier to be approached for start-up funds than the government.
Individually, state loans/grants and friends and family are both more popular as a source of financial help than banks, the study shows.
Gaining access to funds to set up a business remains the biggest obstacle facing would-be entrepreneurs, partly explaining why four out of ten resorted to using their personal savings.
Easily the biggest push toward enterprise came from TV programmes such as Dragons’ Den, which inspired 70% of respondents to take the plunge into self-employment.
More than half of those quizzed had university backgrounds, but the Den came out as the top motivator - as just one third said they started-up thanks to support from their university.
Mar 26, 2007
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